Insider Selling: Roku, Inc. (NASDAQ:ROKU) CAO Sells 629 Shares of Stock

Roku, Inc. (NASDAQ:ROKU) CAO Matthew C. Banks sold 629 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total transaction of $45,904.42. Following the completion of the transaction, the chief accounting officer now owns 8,555 shares of the company’s stock, valued at $624,343.90. This trade represents a 6.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Roku Stock Performance

Roku stock opened at $78.55 on Friday. Roku, Inc. has a 1 year low of $48.33 and a 1 year high of $104.96. The firm’s 50-day moving average is $65.61 and its 200-day moving average is $74.44. The company has a market cap of $11.46 billion, a P/E ratio of -88.26 and a beta of 2.06.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Roku’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.35) EPS. As a group, sell-side analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on ROKU. Needham & Company LLC reiterated a “buy” rating and set a $88.50 price objective on shares of Roku in a research note on Monday, May 12th. Piper Sandler began coverage on shares of Roku in a research note on Thursday, April 17th. They set a “neutral” rating and a $65.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and set a $95.00 price objective on shares of Roku in a research note on Monday, June 2nd. Pivotal Research reduced their price objective on shares of Roku from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, May 2nd. Finally, Redburn Atlantic upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Monday, April 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and an average price target of $88.37.

Hedge Funds Weigh In On Roku

Large investors have recently made changes to their positions in the business. Garde Capital Inc. bought a new position in shares of Roku during the 1st quarter valued at about $25,000. Banque Transatlantique SA bought a new position in Roku during the first quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new position in Roku during the fourth quarter valued at approximately $30,000. Beaird Harris Wealth Management LLC bought a new position in Roku during the first quarter valued at approximately $30,000. Finally, Golden State Wealth Management LLC raised its position in Roku by 125.4% during the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company’s stock valued at $31,000 after acquiring an additional 247 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.